A Fox spokesperson said of the new offer: “As the founding shareholder of Sky, we have remained deeply committed to bringing these two organisations together to create a world-class business positioned to deliver the very best entertainment experiences well into the future.

“We strongly believe that a combined 21CF and Sky will be a powerful driver for the continued growth and vibrancy of the UK and broader global creative industries.

“The enhanced scale and capabilities of the combination will enrich Sky’s ability to continue on its mission for years to come, especially at a time of dynamic change in our industry.”

Fox first announced its Sky takeover bid on 7 December 2016, prompting an investigation by broadcast regulator Ofcom that in turn led to a full six-month probe by the UK competition watchdog over concerns about media plurality and broadcasting standards following the buyout.